CCJ concidering to take some off table but not all

Thursday, April 10, 2008

Unusual Options Activity : Select options seeing interest, making upward implied volatility moves on volume today, with little corresponding action in the underlying stock, include: Calls: CCJ calls are seeing heavy interest today as strength in the stock both yesterday at the close and this morning is attributed to takeover chatter. Bloomberg.com reported yesterday that China National Nuclear is looking for Canadian acquisitions or partnerships, while this morning a RTP-for-CCJ rumor made the rounds. Seeing the most volume are the Apr 40 calls (volume: 16.6K, open int: 3880, implied vol: ~65%, prev day implied vol: ~46%)... CBOE Put/Call ratio: 0.92, VIX: (21.70, -1.11, -4.9%), VXN: (25.29, -1.32, -5.0%). (To find past options related comments in the archive, use the symbol OPTNX)

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